FL-0078Fault Lines · Corporate · Wanted
When Is a Non-Executive Director Liable?
Scope
Directors who do not run the business are still named in prosecutions; the tests for knowledge and charge of affairs vary.
Authorities to start from
- Companies Act, 2013, § 149(12)
- Negotiable Instruments Act, 1881, § 141
- S.M.S. Pharmaceuticals Ltd. v. Neeta Bhalla, (2005) 8 SCC 89
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